$3.44 Billion in Sales Expected for Biogen Inc (NASDAQ:BIIB) This Quarter

Wall Street brokerages forecast that Biogen Inc (NASDAQ:BIIB) will report sales of $3.44 billion for the current fiscal quarter, Zacks reports. Twenty Eight analysts have issued estimates for Biogen’s earnings, with estimates ranging from $3.27 billion to $3.65 billion. Biogen posted sales of $3.49 billion in the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The firm is expected to issue its next quarterly earnings report on Wednesday, April 22nd.

According to Zacks, analysts expect that Biogen will report full-year sales of $14.09 billion for the current year, with estimates ranging from $12.91 billion to $14.47 billion. For the next fiscal year, analysts forecast that the business will report sales of $13.91 billion, with estimates ranging from $12.37 billion to $15.26 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Biogen.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, January 30th. The biotechnology company reported $8.34 EPS for the quarter, beating the Zacks’ consensus estimate of $8.02 by $0.32. Biogen had a return on equity of 46.51% and a net margin of 40.96%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the firm posted $6.99 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year.

Several research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Biogen from $261.00 to $302.00 and gave the company an “underweight” rating in a research report on Thursday, February 6th. Nomura lifted their target price on Biogen from $320.00 to $392.00 and gave the company a “buy” rating in a research report on Friday, February 7th. William Blair reaffirmed a “market perform” rating on shares of Biogen in a research report on Tuesday. Cowen reaffirmed a “buy” rating and set a $325.00 target price on shares of Biogen in a research report on Thursday, January 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $317.00 target price on shares of Biogen in a research report on Thursday, February 6th. Five analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the stock. Biogen currently has a consensus rating of “Hold” and a consensus price target of $316.69.

In related news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $292.35, for a total transaction of $308,429.25. Following the sale, the director now directly owns 6,995 shares in the company, valued at $2,044,988.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

A number of institutional investors have recently modified their holdings of BIIB. Bourgeon Capital Management LLC bought a new stake in shares of Biogen in the third quarter valued at $30,000. Resources Management Corp CT ADV bought a new stake in shares of Biogen during the 3rd quarter valued at $34,000. Solstein Capital LLC bought a new stake in shares of Biogen during the 4th quarter valued at $34,000. Kistler Tiffany Companies LLC raised its stake in shares of Biogen by 41.7% during the 4th quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 35 shares during the period. Finally, Sandy Spring Bank raised its stake in shares of Biogen by 43.5% during the 3rd quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 86.95% of the company’s stock.

Biogen stock traded down $1.25 during mid-day trading on Tuesday, reaching $333.00. The stock had a trading volume of 1,017,642 shares, compared to its average volume of 1,868,579. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.72. Biogen has a fifty-two week low of $215.77 and a fifty-two week high of $374.99. The stock’s 50-day simple moving average is $296.66 and its 200-day simple moving average is $267.35. The firm has a market capitalization of $59.00 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21.

Biogen announced that its Board of Directors has approved a share buyback program on Saturday, December 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the biotechnology company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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